Spirit AeroSystems (NYSE:SPR) Now Covered by StockNews.com

Stock analysts at StockNews.com began coverage on shares of Spirit AeroSystems (NYSE:SPR) in a report issued on Wednesday. The firm set a “sell” rating on the aerospace company’s stock.

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $37.25 price target on shares of Spirit AeroSystems in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $35.67.

Spirit AeroSystems Price Performance

NYSE SPR opened at $33.17 on Wednesday. The business has a 50 day moving average price of $32.12 and a 200 day moving average price of $32.98. The company has a market capitalization of $3.88 billion, a P/E ratio of -2.67 and a beta of 1.82. Spirit AeroSystems has a 1-year low of $25.16 and a 1-year high of $37.08.

Spirit AeroSystems (NYSE:SPR) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported ($3.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.87). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.83 billion. On average, research analysts expect that Spirit AeroSystems will post -12.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spirit AeroSystems

A number of hedge funds and other institutional investors have recently made changes to their positions in SPR. Waldron Private Wealth LLC acquired a new stake in Spirit AeroSystems in the 3rd quarter worth about $32,000. Quest Partners LLC acquired a new stake in shares of Spirit AeroSystems in the third quarter worth approximately $49,000. Quarry LP boosted its position in shares of Spirit AeroSystems by 49.0% in the second quarter. Quarry LP now owns 2,285 shares of the aerospace company’s stock worth $75,000 after acquiring an additional 751 shares during the last quarter. KBC Group NV grew its holdings in Spirit AeroSystems by 20.1% in the third quarter. KBC Group NV now owns 4,607 shares of the aerospace company’s stock valued at $150,000 after purchasing an additional 771 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Spirit AeroSystems during the second quarter worth approximately $207,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Spirit AeroSystems Company Profile

Spirit AeroSystems Holdings, Inc engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, floor beams, nacelles, struts/pylons, horizontal and vertical stabilizers, flaps and slats flight control surfaces, wing structures, and wing systems.